SAN DIEGO, March 28, 2017 /PRNewswire/ -- Medical Marijuana, Inc. (OTC: MJNA), the first-ever publicly
traded cannabis company in the United States, announced today that its major investment company
AXIM® Biotechnologies, Inc.
(AXIM® Biotech) (OTCQB: AXIM), has entered into a Term Sheet Agreement with a U.S.-based
controlled-substances API (Active Pharmaceutical Ingredient) production company to develop a dronabinol-based functional,
controlled-release chewing gum product based on AXIM IP and technology. The new dronabinol chewing gum product will
be bioequivalent to Marinol®. Marinol® was first introduced in the U.S. market in 1985 and
remains the only FDA approved cannabis-based drug available in the U.S.
Marinol (generic name: Dronabinol) is used to treat nausea and vomiting caused by cancer chemotherapy. It is usually used when
other drugs to control nausea and vomiting have not been successful. Dronabinol is also used to treat loss of appetite and weight
loss in patients with HIV infection. Dronabinol (also called THC) is a man-made form of the active natural substance in
marijuana. AXIM will pursue these same indications in its clinical research on the chewing gum replacement.
In its current form, Marinol is delivered through a gel capsule where 90% of the dronabinol is metabolized into 11-OH- THC due
to the first-pass (liver) metabolism. This causes significant side effects for patients including impaired thinking and other
adverse reactions. AXIM's patented control-release chewing gum largely bypasses the first pass metabolism in the liver to the
point where AXIM believes their new formulation will improve efficacy while simultaneously reducing side effects for patients who
utilize this new delivery method.
AXIM will work with an API-manufacturing company that will supply AXIM with the synthetic dronabinol (delta-9-THC)
for use in these trials. AXIM will then conduct a bio-equivalency study and will eventually seek FDA approval to bring
this chewing gum product to market.
"AXIM has once again expanded its clinical research program in an impressive and important way that will greatly benefit this
population of patients," said Dr. Stuart Titus, PhD, CEO of Medical Marijuana, Inc. "With
more than a third of patients discontinuing use of Marinol® as prescribed due to adverse side effects, it is
encouraging that AXIM will research and attempt to bring to market an improved medication that may provide expanded
therapeutics while allowing for a better quality of life for this patient population."
About AXIM ®
AXIM® Biotechnologies, Inc. (OTC: AXIM) focuses on the research, development and production of cannabis-based pharmaceutical, nutraceutical and
cosmetic products. Our flagship products include CanChew®, a CBD-based controlled release chewing gum, and MedChew Rx,
a combination CBD/THC gum that is undergoing clinical trials for the treatment of pain and spasticity associated with multiple
sclerosis. We prioritize the well-being of our customers while embracing a solid fiscal strategy. For more information, please
visit www.AXIMBiotech.com.
About Medical Marijuana, Inc.
Our mission is to be the premier cannabis and hemp industry innovators,
leveraging our team of professionals to source, evaluate and purchase value-added companies and products, while allowing them to
keep their integrity and entrepreneurial spirit. We strive to create awareness within our industry, develop
environmentally-friendly, economically sustainable businesses, while increasing shareholder value. For details on Medical
Marijuana, Inc.'s portfolio and investment companies, visit www.medicalmarijuanainc.com.
To see Medical Marijuana, Inc.'s video statement, click here.
Shareholders are also encouraged to visit the Medical Marijuana, Inc. Shop for discounted products.
FORWARD-LOOKING DISCLAIMER AND DISCLOSURES This press release may contain certain forward-looking statements and
information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about
expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such
forward-looking statements by definition involve risks, uncertainties.
The statements in this press release have not been evaluated by the FDA and are not intended to diagnose, treat or cure any
disease. The Company does not sell or distribute any products that are in violation of the United States Controlled Substances
Act. The Company does sell and distribute hemp-based products.
PUBLIC RELATIONS CONTACT:
Andrew Hard
Chief Executive Officer
CMW Media
P: 888-829- 0070
andrew.hard@cmwmedia.com
www.cmwmedia.com
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